Lotto
Latest draw · Monday, July 6, 2026
Lotto Tax Calculator
See what you'd really take home from a Lotto prize after federal and Illinois state tax — as a lump sum or a 30-year annuity.
- Prize (lump-sum cash)
- $8,450,000
- Federal tax
- − $3,084,688
- State tax (Illinois · 4.95%)
- − $418,275
- Net take-home
- $4,947,037
Estimate only — uses single-filer federal brackets and Illinois's top lottery-withholding rate. Actual tax depends on your total income, filing status and deductions. Not tax advice.
Lotto tax FAQ
How much tax do you pay on a Lotto jackpot in Illinois?
On a $8,450,000 Lotto jackpot taken as a lump sum, you'd pay about $3,084,688 in federal tax and $418,275 in Illinois state tax, leaving roughly $4,947,037.
Does Illinois tax Lotto lottery winnings?
Yes — Illinois withholds about 4.95% in state tax on Lotto winnings, on top of federal tax.
Should I take the Lotto lump sum or annuity?
The lump sum pays a smaller, discounted amount now with full control; the 30-year annuity pays the full advertised jackpot spread over time and can keep you in lower yearly tax brackets. The best choice depends on your goals and tax situation.
